When will happen also in Luxembourg? Empity Houses owned by Hedge Funds and a lot of land owned by few to create a fake shortage
When will happen also in Luxembourg? Empity Houses owned by Hedge Funds and a lot of land owned by few to create a fake shortage
5 comments
its already happening, few companies in Luxembourg own 95% of all living units / land. Its insane. We learned during our Luxembourgish history class that there’s a proprietor in Luxembourg (landlord) who owns like 174 properties throughout the country. Lol not 1, 2 or 10. 1 7 4 ! ! !
I put in an offer to buy this house two years ago. Up for €540,000. Current owner has done zero renovation, held it for two years to avoid speculative and capital gains taxes and it selling for €700,000
https://www.athome.lu/buy/house/crauthem/id-7014274.html
I saw a shell of a house a year ago in echternach for 99,000. Offered slightly above asking price. Didn’t get it. Guy sold it to an estate agent who instantly relisted it for 350,000 (no longer for sale, so someone must have bought it)
Speculation, speculation, speculation
Most empty units I’m familiar with are in personal ownership and the owner lives abroad/is in a nursing home/has died and heirs are in no rush to sort out the estate.
A meaningful annual property tax and an inheritance tax would sort this out pretty quickly.
Professionnel funds are interested in cash flows, and you don’t get this by leaving them empty.
All the building companies Giorgetti and KUHN bought most of the land. If you want to build a house you pay these guys and then you get land plus house plus you pay 10% on the total to notary. Move to Thailand🤣🤮
Good. Tax the hell out of them.